Cash remains a criminal’s best friend (as it has been for hundreds of years). One common complaint about Bitcoin goes like this; “the token is for drug-dealers, criminals & for money laundering”. Not true; the vast majority of transactions are completely legal, law enforcement can catch users who do choose to break the law. Only silly law-breakers would use Bitcoin. Graphic below shows why;
1. all Bitcoin blockchain events are tracked in real time
Bitcoin transactions are recorded on an unalterable, public ledger. Anyone can view any transaction; past, present or future.
2. Bitcoin addresses can then be matched with your IP
Special, high-tech tools exist, particularly in the hands of law enforcement such as FBI, CIA, EUROPOL, INTERPOL, that enable an IP address to be matched with a Bitcoin address. CipherTrace Maltego Transform is a (less-sophisticated) software example.
3. Law Enforcement can gain access to IP Records, Almost Anywhere
Even a criminal trying to mask their IP address with a VPN, TOR or other tool, is not immune. Law enforcement can require service providers, by law, to hand over IP records & time stamps. Cash remains a criminal’s best-friend – as it has been for hundreds of years…